Fitch...20 Nov 2020 05:32
'Fitch believes the cost control measures provide Micro Focus with improved operating leverage, positioning the company for a rapid recovery in profitability and leverage reduction as demand trends normalize.
After the completion of a strategic review and the appointment of new Board leadership in 2020, management is early in their effort to refocus the company following the numerous challenges encountered in the HPE software unit acquisition and integration. However, along with the company's recent refinancing transaction that reduced debt by $150 million and addressed near-term maturities, Fitch sees the current operating improvements and stabilization in execution as highly promising, placing Micro Focus on the path to return to historical profitability levels and potential improvement in the credit profile.'
So back to historic profitability and historic share prices to follow.